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Contract reading

What NPE Market legally published, but does not want you to read

Every clause below is published by NPE Market itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: NPE Market Limited

hidden feeunpublished schedulesole discretionunlicensedcountry restrictiondeemed acceptancefincen msbkyc freezebonus lockclient money

NPE Market Limited holds no financial services licence. Saint Lucia registration and a US anti-money-laundering registration are not licences, and the contract says so plainly. The contract itself is better drafted than most. The problem sits outside it: five documents the contract makes binding, including the schedule that sets every fee, are published nowhere. The broker's own blog claims a dual regulatory layer, which its contract forbids it from claiming.

Back to NPE Market

Contract risk

Money at risk
6.2/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
5
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
18
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
9
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
6

How the 18 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical5
Warning9
Notice4

section 44 of 57is where the deepest clause sits, 77% of the way into the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

2 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical5Fee you were not shown. Jump to the clause this comes from.Five binding documents published nowhere, including the fee scheduleCritical199Account limit. Jump to the clause this comes from.Account form offers every country the contract says it refuses5 working daysTime to complain. Jump to the clause this comes from.Statement entries count as accepted after five business days$10In the contract. Jump to the clause this comes from.Partners earn up to $10 a lot on everything you trade

What the documents say

18 clauses worth knowing about, worst first, each quoted from NPE Market's own files

01

You are bound by five documents you cannot read. Clause 1.3.1 makes the Order Execution Policy, the Schedule of Costs and Charges, the Copy Trading Terms, the PAMM Terms and the API Terms part of your contract. None is on NPE Market's site.

Why this matters

Every fee that is not a spread or a headline commission lives in that missing schedule: the inactivity charge, the currency conversion margin, and the daily charge on a swap-free position. You agree to those amounts without seeing them.

Exhibit 1CriticalHarder than usual5

Your contract with us consists of this document together with each of the following, as amended from time to time and as published in the Legal section of our website:
Clause 1.3.1 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of npemarket.com, taken on Sep 15, 2026Five binding documents published nowhere, including the fee schedule (clause 1.3.1)Visit this page on the broker's siteDownload the full size image file
Our own capture of npemarket.com, taken on Sep 15, 2026The claim, on Legal documents index pageVisit this page on the broker's siteDownload the full size image file
Our own capture of npemarket.com, taken on Sep 15, 2026What the contract says, clause 1.3.2Visit this page on the broker's siteDownload the full size image file

Where it sits: section 9 of 35 in the Client Agreement, 26% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must disclose costs and charges to a retail client before that client trades. This contract makes its schedule of costs binding and does not publish it.

NPE Market is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 13The inactivity charge is set by the missing schedule, so the clause announces a fee whose amount nobody can look up.
  • Worse together with Exhibit 7The daily charge on a swap-free position after day seven points to the same missing schedule.
02

NPE Market runs a Persian landing page headlined as a forex and CFD broker for Iranians, with round-the-clock Persian support. Its own anti-money-laundering policy says it does not open accounts for residents of comprehensively sanctioned countries.

Why this matters

If you open an account from Iran, you sign a promise in clause 2.2.1(f) that you are not in a restricted country. Should NPE Market later apply that clause, clause 15.3.1 lets it terminate you immediately for false information.

Exhibit 2CriticalRarely seen

We do not open accounts for residents of jurisdictions under comprehensive sanctions, or where offering our services would breach local law.
Quoted in Anti-money laundering & know your client, Questions traders actually ask
Read from the broker's site on Open the reference
Our own capture of npemarket.com, taken on Sep 15, 2026The claim, on Main heading of the Persian landing pageVisit this page on the broker's siteDownload the full size image file
Our own capture of npemarket.com, taken on Sep 15, 2026What the contract saysVisit this page on the broker's siteDownload the full size image file

Our readingThe direction is what makes it unusual. The contract commits to screening against United States sanctions lists, while the company's own Persian page names the audience in its headline.

  • Worse together with Exhibit 5The marketing invites a country the contract may exclude, and the account form applies no country check at all.
03

NPE Market's own article tells you client money is beyond the reach of creditors in any scenario short of a bank failing. Clause 8.1.3 says you get no proprietary claim of the kind client-money rules give you at a regulated firm.

Why this matters

If NPE Market fails, what you recover is decided by Saint Lucia law and by this contract, not by a rule that ring-fences your balance. Clause 8.1.4 adds that your money may be pooled with other clients' money.

Exhibit 3CriticalHarder than usual

It is a contractual undertaking by us, recorded in our books and reconciled internally. It is not statutory client-money protection, it is not supervised by a financial regulator, and it does not confer on you a proprietary claim of the kind conferred by client-money rules in regulated jurisdictions.
Clause 8.1.3 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of npemarket.com, taken on Sep 15, 2026The claim, on NPE Market blog article, section on segregated accountsVisit this page on the broker's siteDownload the full size image file
Our own capture of npemarket.com, taken on Sep 15, 2026What the contract says, clause 8.1.3Visit this page on the broker's siteDownload the full size image file
Our own capture of npemarket.com, taken on Sep 15, 2026Blog says creditors cannot reach your money, contract says otherwise (clause 8.1.3)Visit this page on the broker's siteDownload the full size image file

Buried at section 76 of 113 in the Client Agreement, 67% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU)

Firms licensed by the FCA, CySEC and other ESMA regimes hold retail client money under statutory client-money rules, which give the client a proprietary claim in an insolvency. This contract states that no such claim arises.

NPE Market is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 17No compensation scheme stands behind the company, so the insolvency outcome the article rules out is the one that would apply.
04

NPE Market's published article calls its setup a dual regulatory layer and says the FinCEN registration brings the compliance burden of a substantive regulator. Clause 1.2.5 promises it will not present that registration as regulatory approval.

Why this matters

No regulator checks NPE Market's pricing, its execution, its capital or how it holds your money. Clause 1.2.2 says so directly. If a supervision claim persuaded you to deposit, the contract you signed withdraws it.

Exhibit 4CriticalRarely seen

We will not describe ourselves as “regulated”, “licensed” or “supervised”, will not present the FinCEN registration as a licence or as regulatory approval, and will not describe client funds as “protected” or “guaranteed”, unless and until that is accurate and we can identify the authority concerned.
Clause 1.2.5 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of npemarket.com, taken on Sep 15, 2026The claim, on NPE Market blog article on broker securityVisit this page on the broker's siteDownload the full size image file
Our own capture of npemarket.com, taken on Sep 15, 2026What the contract says, clause 1.2.2Visit this page on the broker's siteDownload the full size image file
Our own capture of npemarket.com, taken on Sep 15, 2026Marketing claims regulatory oversight the contract forbids claiming (clause 1.2.5)Visit this page on the broker's siteDownload the full size image file

Our readingContracts rarely contain an express promise not to make a marketing claim. This one does, and it invites you to report the claim if you see it. The company's own blog then makes it.

05

Clause 1.4.4 names the United States and North Korea as countries NPE Market does not serve. The account form we opened lists all 199 countries, those two included, and raises no objection. The restricted list the clause promises is not on the site.

Why this matters

You can open and fund an account from a country the contract excludes, then find that exclusion used against you. The list that would tell you where you stand does not exist to be read.

Exhibit 5CriticalHarder than usual199

The current list of restricted jurisdictions is published on our website and may change without notice.
Clause 1.4.4 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of npemarket.com, taken on Sep 15, 2026Account form offers every country the contract says it refuses (clause 1.4.4)Visit this page on the broker's siteDownload the full size image file
06

The homepage offers index trading with zero commission. Clause 4.1.4 charges commission on indices as a percentage of position value instead: 0.08% on a Standard account, 0.06% on ECN and ECN Pro.

Why this matters

The charge is taken on the value of the position, not on your deposit, so it grows with leverage. On an account opened with $30 and run at high leverage, it is the largest cost you pay.

Exhibit 6WarningHarder than usual0.08%

On cryptoassets, energies, indices, and shares where offered, commission is charged instead as a percentage of the notional value of the position, at the rate shown for your account type in clause 4.1.1. A Standard account pays no per-lot commission but does pay notional commission on those classes.
Clause 4.1.4 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of npemarket.com, taken on Sep 15, 2026The claim, on Indices card on the Persian landing pageThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Our own capture of npemarket.com, taken on Sep 15, 2026What the contract says, clause 4.1.4Visit this page on the broker's siteDownload the full size image file

Where it sits: section 38 of 113 in the Client Agreement, 34% of the way through.

What it costsA $10,000 position in US30 costs $8 in commission at 0.08%. The homepage calls that same trade zero commission.

The document that sets every fee is the one NPE Market does not publish

Clause 1.3.1 of the NPE Market contract binds you to five documents that appear nowhere on its site, including the Schedule of Costs and Charges. That schedule sets the inactivity charge, the currency conversion margin and the daily fee on a swap-free position. Separately, indices marketed as zero commission carry 0.08% of position value under clause 4.1.4.

Cost disclosure1 clause flagged

The Islamic account holds a position free of overnight financing for seven days. From the eighth day clause 9.4.3 allows a fee for every further day, set by a schedule NPE Market does not publish.

Why this matters

You cannot find out what holding a position for a fortnight costs you before you open it. The account page calls the day eight charge standard swap, which is the interest the facility exists to avoid.

Exhibit 7WarningHarder than usual7 days

The facility covers a position for up to seven (7) days. Where a position is held beyond that period, an administration fee may apply for each further day it remains open. That fee is a charge for administering the facility, is calculated by reference to the published schedule, and is not interest.
Clause 9.4.3 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of npemarket.com, taken on Sep 15, 2026The claim, on Standard account page, pricing notesVisit this page on the broker's siteDownload the full size image file
Our own capture of npemarket.com, taken on Sep 15, 2026What the contract says, clause 9.4.3Visit this page on the broker's siteDownload the full size image file

Money in an NPE Market pooled account leaves only at a rollover point

Ordinary withdrawals at NPE Market are processed in one business day and clause 8.3.6 closes the list of reasons for refusing one. A PAMM share is different: clause 8.3.9 releases it only at the pool's published rollover points, and between them you cannot close a position, hedge or withdraw.

Exit conditions1 clause flagged

A share of a PAMM pool is not a free balance. Clause 8.3.9 releases it only at the rollover points published for that pool, so you cannot take it out when you want to.

Why this matters

If the pool is losing money between rollover points, you watch it happen. You cannot close a position, cannot hedge and cannot withdraw.

Exhibit 12WarningStandard wording

Money invested in a pooled account is different. A share of a PAMM pool is not a free balance and cannot be withdrawn on demand: it is realised at the rollover points published for that pool, under clause 3.7.3, because money leaving mid-position would change every other investor's percentage.
Clause 8.3.9 in Client Agreement
Read from the broker's site on Open the reference

NPE Market can void trades and take back profit it has already paid you

Clause 6.10.1 lets NPE Market void trades, reverse profit and reclaim withdrawn money as a debt, across 54 named practices. The response runs through eight graduated steps. Clause 6.10.2 confines the deduction to the value extracted and protects your deposits and unrelated trading, which is a firmer limit than most contracts set.

Voiding powers1 clause flagged

Clause 6.10.1 lets NPE Market void your trades, reverse the profit on them, and reclaim money you have already withdrawn as a debt. It applies to 54 named practices across eight families of prohibited trading.

Why this matters

Money you have banked can be taken back. Clause 6.10.2 limits the deduction to the value extracted and protects your deposits and your unrelated trading, which is a real boundary most brokers do not write.

Exhibit 11WarningStandard wording

Where a finding is made, we may adjust your account to remove the value extracted by the prohibited activity.
Clause 6.10.1 in Client Agreement
Read from the broker's site on Open the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Step 1NPE Market flags your account for monitoring. Your trading is not affected.6.9
Step 2Your orders are routed for full external execution.6.9
Step 3NPE Market applies account-specific spread, commission, leverage or a minimum holding period.6.9
Step 4A facility is withdrawn: swap-free status, a rebate, copy trading or programmatic access.6.9
Step 5Your account goes close-only. You can still close positions and withdraw unaffected funds.6.9
Step 6The identified trades are voided or re-priced and your account is adjusted.6.9
Step 7Trading is suspended or your account blocked for a stated period.6.9
Step 8NPE Market terminates and returns the balance left after any adjustment.6.9

NPE Market names countries it refuses, then offers the account to all of them

Clause 1.4.4 excludes the United States and North Korea and points to a restricted list that is not published. The NPE Market account form lists all 199 countries and objects to none. Clause 2.8.2 separately lets the company link accounts that share an IP address, after which a loss on one can be set against your balance on another.

Who may open1 clause flagged

Clause 2.8.2 lets NPE Market treat accounts as Connected Accounts where they share an IP address, a device fingerprint or a payment card. Two people in one household can meet that test.

Why this matters

Once accounts are linked, clause 6.12.1 lets NPE Market recover an adjustment from any account in the group, and clause 7.7.1 lets it set a loss on one against your balance on another.

Exhibit 10WarningHarder than usual

Where accounts share an IP address, device fingerprint, payment instrument, beneficial owner or a materially identical trading pattern, we may treat them as Connected Accounts for the purposes of this Agreement.
Clause 2.8.2 in Client Agreement
Read from the broker's site on Open the reference
  • Worse together with Exhibit 11Linking is the step that turns a finding against somebody else's trading into a deduction from your balance.

Five business days to dispute an entry, then it counts as agreed

Clause 10.5.2 gives you five business days to challenge an entry on an NPE Market statement, after which it is treated as accepted. The clock runs from the entry rather than from the day you noticed it. The complaints policy is gentler, stating that its own five day window is not a bar to raising a complaint later.

Challenge window1 clause flagged

Clause 10.5.2 gives you five business days to challenge an entry on a confirmation or statement. Miss that window and the entry is treated as accepted, unless it was an obvious error.

In plain words

A manifest error means an obvious mistake by the broker.

Why this matters

A wrong charge or a wrong fill becomes final while you are still deciding whether it looked odd. The clock runs from the entry, not from the day you noticed it.

Exhibit 8WarningHarder than usual5 working days

Review confirmations and statements promptly. If you believe an entry is wrong you must tell us within five (5) business days, failing which the entry is treated as accepted, save in the case of a manifest error.
Clause 10.5.2 in Client Agreement
Read from the broker's site on Open the reference

Disputes with NPE Market are decided by the courts of Saint Lucia

Saint Lucia law governs and its courts hear disputes. NPE Market states directly that no ombudsman, dispute scheme or compensation scheme stands behind it, and that its FinCEN registration gives you no complaints route. Clause 19.3 preserves any right your own country's consumer law gives you to sue at home.

Where you sue1 clause flagged

Saint Lucia law governs your contract and Saint Lucia courts decide disputes. NPE Market states that no ombudsman, dispute scheme or compensation scheme is available to you, and that its FinCEN registration gives you no complaints route.

Why this matters

If NPE Market rejects your complaint, your next step is a court in the Caribbean. Clause 19.3 does keep any right your own country's consumer law gives you to sue at home.

Exhibit 9WarningStandard wording

There is therefore no financial ombudsman service, statutory dispute-resolution scheme or investor compensation scheme available to you in respect of the Company, and we will not suggest otherwise.
Quoted in Complaints Handling Policy, 10 If you are still not satisfied
Read from the broker's site on Open the reference

Buried at section 67 of 90 in the Complaints Handling Policy, 74% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must give retail clients access to an independent complaints body that can order redress. NPE Market states that no such body is available about the company.

NPE Market is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

NPE Market takes the other side of your trade and audits itself

NPE Market is your counterparty and internalises part of its order flow, so on unhedged positions it gains what you lose. Its conflicts policy states in its own words that the controls are verified by no one but the company. A partner who referred you earns up to $10 per standard lot on everything you trade.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Whose side2 clauses flagged

Every trade you place is against NPE Market. It keeps some of that risk on its own book, and on those positions it makes money when you lose. Its conflicts policy says its own controls are verified by nobody else.

Why this matters

The controls that stop this hurting you are written, applied and checked by the same company. You can test them through the complaints procedure, and nowhere else.

Exhibit 15WarningStandard wording

It is a set of internal arrangements maintained by us, described by us, and — with no financial services regulator supervising the Company — verified by no one but us.
Quoted in Conflicts of Interest Policy, 13 The limit of this policy
Read from the broker's site on Open the reference

Buried at section 44 of 57 in the Conflicts of Interest Policy, 77% of the way through.

Whoever referred you is paid on your volume, up to $10 for every standard lot, win or lose. NPE Market pays it out of its own revenue, so your published costs do not change.

Why this matters

The person telling you to trade more is paid when you do. Their income tracks your activity, not your results.

Exhibit 16NoticeStandard wording$10

Where a partner introduced you to us, we pay that partner a rebate calculated on the volume you trade — up to USD 10 per standard lot, on the schedule at clause 9.5 of the Client Agreement.
Quoted in Conflicts of Interest Policy, 04 Introducing partners
Read from the broker's site on Open the reference

Where it sits: section 20 of 57 in the Conflicts of Interest Policy, 35% of the way through.

What it costsTrade 100 standard lots in a month and your partner is paid up to $1,000, whatever your account made or lost.

Twelve quiet months trigger a charge NPE Market has not published

Clause 8.7.1 treats an account as inactive after twelve months without a trade, deposit or withdrawal, and sets the charge in the Schedule of Costs and Charges, which is published nowhere. NPE Market must warn you before applying it, and the charge cannot exceed your balance or create a debt.

In plain words

Dormancy means an account left unused.

Dormancy1 clause flagged

Leave an account untouched for twelve months and NPE Market treats it as inactive, then charges you. Clause 8.7.1 puts the amount in the Schedule of Costs and Charges, which is published nowhere.

Why this matters

You cannot work out what dormancy costs you before it starts. The charge does stop at zero and cannot push you into debt, and NPE Market must warn you before applying it.

Exhibit 13WarningStandard wording

An account with no trading, deposit or withdrawal activity for twelve (12) consecutive months is treated as inactive. We will notify you before applying any inactivity charge, and the charge is set out in the Schedule of Costs and Charges.
Clause 8.7.1 in Client Agreement
Read from the broker's site on Open the reference

Buried at section 48 of 70 in the Client Agreement, 69% of the way through.

NPE Market keeps your identity file for seven years after you leave

NPE Market retains your identity, address and payment documents for seven years after the relationship ends and will refuse any request to delete them, however it is framed. It matches new applications against that file and may refuse you. The policy explains the obligation at length rather than burying it.

Your documents1 clause flagged

NPE Market keeps your passport image, address document and payment records for seven years after your relationship ends. It will refuse a deletion request however you word it, including as a condition of closing your account.

Why this matters

Closing the account does not clear the file. NPE Market matches a future application against it and may refuse you if the earlier account was terminated.

Exhibit 14NoticeStandard wording

Within that period we cannot delete them, and a request that we do so will be declined. That applies however the request is framed, whichever channel it arrives through, and whether it is presented as a support request, as a data protection request, or as a condition of closing your account.
Quoted in Privacy Policy, 11 Verification records
Read from the broker's site on Open the reference

Buried at section 73 of 115 in the Privacy Policy, 63% of the way through.

NPE Market Limited holds no financial services licence at all

NPE Market Limited is a Saint Lucia company with a US anti-money-laundering registration, and neither is a licence. No compensation scheme, deposit guarantee or ombudsman covers you. With no regulator setting a cap, the Standard account opens at $30 and runs at leverage up to 1:500, where a 0.20% move exhausts the margin.

What stands behind it2 clauses flagged

NPE Market Limited holds no financial services licence. Its Saint Lucia registration is a company record and its FinCEN registration is an anti-money-laundering filing. Neither protects your money.

Why this matters

If the company fails or refuses to pay, nothing steps in behind it. There is no scheme to compensate you and no regulator to order it.

Exhibit 17NoticeStandard wording

no statutory investor compensation scheme, deposit guarantee or financial ombudsman service is available to you in respect of the Company;
Clause 1.2.3 in Client Agreement
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA belong to the Financial Services Compensation Scheme, and CySEC firms to the Investor Compensation Fund, both of which pay clients when the firm cannot. NPE Market states that no such scheme covers it.

NPE Market is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

The Standard account opens at $30 and runs at leverage up to 1:500. NPE Market's own table shows that a move of 0.20% against you then wipes out the margin behind the position.

Why this matters

At that setting an ordinary day in EUR/USD closes your account. NPE Market says plainly that it offers this because its jurisdiction permits it, not because it recommends it.

Exhibit 18NoticeHarder than usual500

Maximum leverage is the ceiling applicable to the account type and differs between them: 1:500 on Standard, 1:300 on ECN and 1:200 on ECN Pro.
Clause 4.1.5 in Client Agreement
Read from the broker's site on Open the reference
Set against a regulated standard: ESMA (EU), FCA (UK), CySEC (Cyprus), ASIC (Australia)

Under the ESMA rules applied by the FCA, CySEC and comparable regimes, retail leverage on major currency pairs is capped at 1:30. No cap applies to this company.

NPE Market is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The Persian page names Iranians as its audience while the anti-money-laundering policy refuses residents of comprehensively sanctioned countries.

Said in public, in Persian

بروکر فارکس و CFD برای ایرانیان

Word for word in English: Forex and CFD broker for Iranians

Main heading of the Persian landing page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of npemarket.com

In the contract

We do not open accounts for residents of jurisdictions under comprehensive sanctions, or where offering our services would breach local law.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of npemarket.com

02

The blog presents the FinCEN registration as regulatory supervision, which clause 1.2.2 says it is not and clause 1.2.5 promises not to claim.

Said in public, in English

The IBC structure provides the legal vehicle; the FinCEN registration provides the ongoing compliance burden of a substantive regulator.

NPE Market blog article on broker security

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of npemarket.com

In the contract · clause 1.2.2

It involves no conduct supervision and no prudential supervision. No authority reviews our pricing, our execution, our capital adequacy, or the way we hold your money by reason of it.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of npemarket.com

03

The article promises creditors cannot reach your money while the contract says you hold no proprietary claim over it.

Said in public, in English

What it does provide is the single most important structural safeguard in retail brokerage: in any adverse scenario short of bank failure itself, client capital is not available to satisfy creditor claims against the broker.

NPE Market blog article, section on segregated accounts

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of npemarket.com

In the contract · clause 8.1.3

It is not statutory client-money protection, it is not supervised by a financial regulator, and it does not confer on you a proprietary claim of the kind conferred by client-money rules in regulated jurisdictions.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of npemarket.com

04

Indices are advertised as carrying no commission while clause 4.1.4 charges 0.08% of position value on them.

Said in public, in Persian

دسترسی به US30، NAS100، DAX40 و ۱۵ شاخص جهانی با نقدینگی بالا و بدون کمیسیون.

Word for word in English: Access to US30, NAS100, DAX40 and 15 global indices with high liquidity and no commission.

Indices card on the Persian landing page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of npemarket.com

In the contract · clause 4.1.4

On cryptoassets, energies, indices, and shares where offered, commission is charged instead as a percentage of the notional value of the position, at the rate shown for your account type in clause 4.1.1.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of npemarket.com

05

The account page says interest is charged from day eight while the contract says the day eight charge is an administration fee and not interest.

Said in public, in English

Swap-free (Islamic) status is available on any Standard account at the holder's request and applies for up to seven days. From the eighth day, standard swap is charged on positions held overnight.

Standard account page, pricing notes

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of npemarket.com

In the contract · clause 9.4.3

That fee is a charge for administering the facility, is calculated by reference to the published schedule, and is not interest.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of npemarket.com

06

The index page promises every binding document is readable, while the contract binds you to an Order Execution Policy that is published nowhere and that overrides the contract on execution.

Said in public, in English

If a document governs your account, you can read it before you open one.

Legal documents index page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of npemarket.com

In the contract · clause 1.3.2

Those documents are incorporated by reference and bind you. Where a genuine conflict arises, this document prevails, save that the Order Execution Policy prevails on order handling and execution, and the Contract Specifications prevail on the trading parameters of an individual instrument.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of npemarket.com

The documents this reading is based on

9 files, all published by NPE Market. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording NPE Market publishes.

How this reading was done

Every clause above was read out of a document NPE Market publishes itself

This reading was published on .

Documents
9 of 9downloaded from the broker's site, and 9 read in full
Pages opened
53pages walked to find those documents, footer links included
Marketing pages
11public pages set against what the contract says
Languages
EN vs FAthe language it advertises in, against the language it contracts in
Position measured
8clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

NPE Market Limited

You contract with NPE Market Limited, an International Business Company registered in Saint Lucia under number 2024-00497, with an operational office in Dubai. Clause 1.1.4 says that office holds no licence and is not a separate contracting party. The company also holds US FinCEN Money Services Business registration 31000317305002. Clause 1.2.2 settles what that is in the broker's own words: an anti-money-laundering registration, not a financial services licence, with no conduct supervision and no prudential supervision.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

This contract is better than most unlicensed brokers publish, and in places better than licensed ones. Clause 6.17 lists what NPE Market may not do: it cannot void a profitable trade for being profitable, and cannot treat your win rate or how often you withdraw as evidence of abuse. Clause 6.11.2 gives you ten business days to reply before a measure becomes final, with the trade-level data behind it. Money not under investigation stays withdrawable throughout. Withdrawals are processed in one business day, and clause 8.3.6 closes the list of grounds for refusal. Clause 19.3 preserves the consumer law of your own country. The Risk Disclosure states the absence of a licence more clearly than many licensed firms state theirs.

We read all nine legal documents NPE Market publishes, and we read the whole Client Agreement on NPE Market's own page. Five documents the Client Agreement makes binding are published nowhere, so nobody can read them: the Order Execution Policy, the Schedule of Costs and Charges, the Copy Trading Terms, the PAMM Terms and the API Terms. The restricted-jurisdictions list that clause 1.4.4 says is published does not appear on the site, so we could not confirm whether Iran is on it. No earlier version of any document exists to compare against. NPE Market also publishes Arabic, Turkish, Spanish, Kurdish and Urdu versions of its site, which we did not read in full.

How to check any of this yourself

Every quote above links to the NPE Market file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document NPE Market publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge NPE Market on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Sep 15, 2026.

If you represent NPE Market and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on NPE Market. Whether its licence is real and current is a separate check on the broker profile.

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